Question 2.36 Homework Unanswered Suppose you have $600,000 in savings earning 5.1%. You would like to make monthly withdrawals of $3,000 from this account. How long will your savings last? Answer in years, rounded to one decimal place. Type your numeric answer and submit

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Question 2.36
Homework Unanswered
Suppose you have $600,000 in savings earning 5.1%. You would like to make monthly withdrawals of $3,000 from this account.
How long will your savings last? Answer in years, rounded to one decimal place.
Type your numeric answer and submit
Unanswered 3 attempts left
Submit
Transcribed Image Text:Question 2.36 Homework Unanswered Suppose you have $600,000 in savings earning 5.1%. You would like to make monthly withdrawals of $3,000 from this account. How long will your savings last? Answer in years, rounded to one decimal place. Type your numeric answer and submit Unanswered 3 attempts left Submit
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